Chegg falls on swinging to first-quarter loss

Chegg

29/04/2024 22:01

** Shares of education technology company Chegg  CHGG.N 
down 5.6% to $6.77 after the bell
    ** Co swings to first-quarter loss vs previous year on
higher provision for income taxes
    ** CHGG reports Q1 loss of $1.4 mln vs profit of $2.2 mln
from previous year
    ** Co's provision for income taxes more than doubled to $9.1
mln
    ** CHGG also announces appointment of Nathan Schultz as CEO 
    ** Up to last close, shares down 36.9% YTD

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))